Baku, Azerbaijan, July 19
By Azad Hasanli – Trend:
The average interest rate on deposits in Azerbaijani banks decreased in national currency, while increased in foreign currency in May 2017 compared to May 2016, the report of the Central Bank of Azerbaijan (CBA) said.
The average rate on deposits in manat amounted to 7.16 percent in May 2017 compared to 7 percent in April 2017 and 7.78 percent in May 2016.
The average rate on deposits in foreign currency amounted to 3.79 percent in May 2017 compared to 3.88 percent in April 2016 and 5.42 percent in May 2016.
The banks drew deposits of legal entities in manat in the amount of 4.04 percent per annum in May 2017 compared to 4.04 percent in April 2017 and 5.49 percent in May 2016.
The funds on the accounts denominated in the foreign currency brought 2.87 percent to legal entities in May 2017, 2.91 percent in April 2017 and 3.17 percent in May 2016.
As of June 1, 2017, the average interest rate on deposits of physical entities in manat made up 11.32 percent compared to 11.04 percent as of late April 2017 and 8.95 percent as of May 2016.
The interest rates on deposits of physical entities in foreign currency are as follows: 4.47 percent in May 2017, 4.55 percent in April 2017 and 6.94 percent in May 2016.